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Samsung Electronics proposes Jay Y. Lee as board director

Samsung Electronics Co Ltd said on Monday its board of directors has nominated Vice Chairman Jay Y. Lee as an inside director, signalling the group's de facto head would officially cement his role as leader of South Korea's top conglomerate.

Samsung, in a statement, said Lee demonstrated leadership abilities in helping earnings recover, and that the appointment would allow him to take a more active role in management, including strategic initiatives such as mergers and acquisitions.

"By taking an official position as a member of the Board of Directors, Mr. Lee is demonstrating his commitment to the future of the Company and to delivering benefit to the Company and its shareholders," Samsung said in the statement.